Key Points – Q2 financial performance strengthened: Partner revenue reached C$50.6 million, 5.6% above guidance, while net distributable cash flow rose 42% year over year.
Net book value increased to a record C$25.83 per unit, and the payout ratio fell to 58% for the first half. – Portfolio expansion continued: Alaris deployed C$126 million in 2026, including investments in Kubik and Tesco, increasing its portfolio to a record 25 partners
The annualized yield on preferred capital rose to 12.8%. – Management expects continued activity: Third-quarter partner revenue is forecast at approximately C$69 million, supported by seasonal common distributions, while run-rate revenue increased to about C$208 million. Alaris had C$127 million of undrawn credit capacity and expects potential investments and exits during the rest of 2026. Alaris Equity Partners Income Trust (AD.UN) (TSE:AD.UN) reported second-quarter results marked by higher partner revenue, distributable cash flow growth and a record net book value, as investments made over the past 18 months began contributing more fully to results.
Chief Financial Officer Amanda Frazer said total partner revenue was C$50.6 million, exceeding guidance by 5.6%. The total included C$49.9 million of partner distributions and C$700,000 of third-party fees. Total revenue and operating income rose 25% from the prior-year quarter, while partner distribution revenue increased nearly 20%.